EQX vs. PAAS: Equinox Gold vs. Pan American Silver Stock Comparison
How do Equinox Gold (EQX) and Pan American Silver (PAAS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
Equinox Gold (EQX) and Pan American Silver (PAAS) both belong to the Metals & Mining industry, though EQX is classified under Gold while PAAS falls under Silver.
| Profile Item | EQX | PAAS |
|---|---|---|
| Name | Equinox Gold Corp. | Pan American Silver Corp. |
| Country/Region | Canada | Canada |
| GICS Sector | Materials | Materials |
| GICS Industry Group | Materials | Materials |
| GICS Industry | Metals & Mining | Metals & Mining |
| GICS Sub-Industry | Gold | Silver |
| Market Capitalization | 13.45 billion USD | 16.98 billion USD |
| Currency | USD | USD |
| Exchange | NYSE American | NYSE |
| Listing Date | January 2, 2019 | June 12, 1995 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | EQX | PAAS |
|---|---|---|
| Total Return (1Y) | 1.87% | 22.43% |
| Total Return (3Y, Annualized) | 37.49% | 47.84% |
| Total Return (5Y, Annualized) | 8.54% | 11.59% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
| Metric | EQX | PAAS |
|---|---|---|
| Volatility (1Y, Annualized) | 63.25% | 58.13% |
| Beta (5Y) | 1.25 | 0.72 |
| Max Drawdown (5Y) | -71.57% | -57.39% |
| Avg. Volume (3M) | 12.60M | 4.31M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | EQX | PAAS |
|---|---|---|
| Sharpe Ratio (1Y) | -0.04 | 0.31 |
| Sortino Ratio (1Y) | -0.06 | 0.45 |
Profitability
ROE (TTM)
Pan American Silver (PAAS) at 22.39% sits in the top ROE quartile, while Equinox Gold (EQX) at 8.47% is closer to the peer norm — stronger capital efficiency for PAAS.
EQX
Materials industry group
8.47%
- Max
- 52.88%
- Q3
- 19.49%
- Median
- 8.76%
- EQX
- 8.47%
- Q1
- -3.41%
- Min
- -32.81%
PAAS
Materials industry group
22.39%
- Max
- 52.88%
- PAAS
- 22.39%
- Q3
- 19.49%
- Median
- 8.76%
- Q1
- -3.41%
- Min
- -32.81%
Net Margin (TTM)
For every dollar of sales, both Equinox Gold (EQX) at 28.09% and Pan American Silver (PAAS) at 35.16% retain more as net profit than most peers, landing in the top net margin quartile of their industries.
EQX
Materials industry group
28.09%
- Max
- 38.66%
- EQX
- 28.09%
- Q3
- 15.98%
- Median
- 5.28%
- Q1
- 0.00%
- Min
- -20.40%
PAAS
Materials industry group
35.16%
- Max
- 38.66%
- PAAS
- 35.16%
- Q3
- 15.98%
- Median
- 5.28%
- Q1
- 0.00%
- Min
- -20.40%
Operating Margin (TTM)
Both Equinox Gold (EQX) at 32.14% and Pan American Silver (PAAS) at 34.29% convert sales into operating profit at a top-quartile rate, pointing to tighter cost discipline before financing and tax.
EQX
Materials industry group
32.14%
- Max
- 66.70%
- EQX
- 32.14%
- Q3
- 28.92%
- Median
- 12.56%
- Q1
- 3.28%
- Min
- -14.07%
PAAS
Materials industry group
34.29%
- Max
- 66.70%
- PAAS
- 34.29%
- Q3
- 28.92%
- Median
- 12.56%
- Q1
- 3.28%
- Min
- -14.07%
Profitability Metrics
| Metric | EQX | PAAS |
|---|---|---|
| ROE (TTM) | 8.47% | 22.39% |
| ROA (TTM) | 6.74% | 11.27% |
| Net Margin (TTM) | 28.09% | 35.16% |
| Operating Margin (TTM) | 32.14% | 34.29% |
| Gross Margin (TTM) | 57.60% | 55.17% |
Growth
Revenue Growth
Equinox Gold (EQX) at 99.07% clears its industry range for revenue growth, far stronger top-line momentum than Pan American Silver (PAAS) at 28.38%, which is closer to a typical peer reading.
EPS Growth
Pan American Silver (PAAS) at 725.81% clears its industry range for EPS growth, a much stronger earnings trajectory than Equinox Gold (EQX) at -53.33%, which is closer to a typical peer reading.
Growth Metrics
| Metric | EQX | PAAS |
|---|---|---|
| Revenue Growth (YoY) | 99.07% | 28.38% |
| Revenue Growth (3Y CAGR) | 24.04% | 34.28% |
| EPS Growth (YoY) | -53.33% | 725.81% |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Pan American Silver (PAAS) at 2.72 keeps current ratio within its industry’s typical mid-range, while Equinox Gold (EQX) at 1.33 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for EQX.
EQX
Materials industry group
1.33
- Max
- 5.96
- Q3
- 3.30
- Median
- 2.24
- Q1
- 1.45
- EQX
- 1.33
- Min
- 0.16
PAAS
Materials industry group
2.72
- Max
- 5.96
- Q3
- 3.30
- PAAS
- 2.72
- Median
- 2.24
- Q1
- 1.45
- Min
- 0.16
Debt / Equity (MRQ)
Pan American Silver (PAAS) at 0.11 keeps leverage in the lower industry quartile, while Equinox Gold (EQX) at 0.13 runs a more typical debt-to-equity mix.
EQX
Materials industry group
0.13
- Max
- 1.98
- Q3
- 0.89
- Median
- 0.47
- EQX
- 0.13
- Q1
- 0.13
- Min
- 0.00
PAAS
Materials industry group
0.11
- Max
- 1.98
- Q3
- 0.89
- Median
- 0.47
- Q1
- 0.13
- PAAS
- 0.11
- Min
- 0.00
Financial Strength Metrics
| Metric | EQX | PAAS |
|---|---|---|
| Current Ratio (MRQ) | 1.33 | 2.72 |
| Debt / Equity (MRQ) | 0.13 | 0.11 |
| Net Debt / EBITDA | 0.21 | -0.39 |
Dividends
Dividend Yield (TTM)
Both Equinox Gold (EQX) at 0.27% and Pan American Silver (PAAS) at 1.69% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.
EQX
Materials industry group
0.27%
- Max
- 4.52%
- Q3
- 1.85%
- Median
- 0.38%
- EQX
- 0.27%
- Q1
- 0.00%
- Min
- 0.00%
PAAS
Materials industry group
1.69%
- Max
- 4.52%
- Q3
- 1.85%
- PAAS
- 1.69%
- Median
- 0.38%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Both Equinox Gold (EQX) at 6.25% and Pan American Silver (PAAS) at 18.00% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.
EQX
Materials industry group
6.25%
- Max
- 83.62%
- Q3
- 41.37%
- Median
- 9.54%
- EQX
- 6.25%
- Q1
- 0.00%
- Min
- 0.00%
PAAS
Materials industry group
18.00%
- Max
- 83.62%
- Q3
- 41.37%
- PAAS
- 18.00%
- Median
- 9.54%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | EQX | PAAS |
|---|---|---|
| Dividend Yield (TTM) | 0.27% | 1.69% |
| Dividend Payout Ratio (TTM) | 6.25% | 18.00% |
Valuation
P/E Ratio (TTM)
Pan American Silver (PAAS) at 10.83 sits in the cheaper P/E ratio quartile, while Equinox Gold (EQX) at 24.00 is closer to its industry’s usual earnings multiple — a discount for PAAS, though growth and earnings durability still matter.
EQX
Materials industry group
24.00
- Max
- 59.00
- Q3
- 32.93
- EQX
- 24.00
- Median
- 18.82
- Q1
- 11.96
- Min
- 3.93
PAAS
Materials industry group
10.83
- Max
- 59.00
- Q3
- 32.93
- Median
- 18.82
- Q1
- 11.96
- PAAS
- 10.83
- Min
- 3.93
P/S Ratio (TTM)
Pan American Silver (PAAS) at 3.80 is priced about in line with its industry on P/S ratio, while Equinox Gold (EQX) at 4.64 sits in the pricier quartile — EQX costs more per dollar of sales.
EQX
Materials industry group
4.64
- Max
- 9.62
- EQX
- 4.64
- Q3
- 4.34
- Median
- 1.87
- Q1
- 0.73
- Min
- 0.00
PAAS
Materials industry group
3.80
- Max
- 9.62
- Q3
- 4.34
- PAAS
- 3.80
- Median
- 1.87
- Q1
- 0.73
- Min
- 0.00
P/B Ratio (MRQ)
On P/B ratio, both Equinox Gold (EQX) at 1.43 and Pan American Silver (PAAS) at 2.29 are valued close to their industries’ norm against book — neither stands out from peers.
EQX
Materials industry group
1.43
- Max
- 6.59
- Q3
- 3.55
- Median
- 2.08
- EQX
- 1.43
- Q1
- 1.26
- Min
- -0.17
PAAS
Materials industry group
2.29
- Max
- 6.59
- Q3
- 3.55
- PAAS
- 2.29
- Median
- 2.08
- Q1
- 1.26
- Min
- -0.17
Valuation Metrics
| Metric | EQX | PAAS |
|---|---|---|
| P/E Ratio (TTM) | 24.00 | 10.83 |
| P/S Ratio (TTM) | 4.64 | 3.80 |
| P/B Ratio (MRQ) | 1.43 | 2.29 |
| Free Cash Flow Yield (TTM) | 2.15% | 8.01% |